BEML hits 52-week low

BEML is trading lower by 4% at Rs 392 on reports that the company’s truck assembly units at Bangalore, Mysore and Palakkad are operating below capacity after army orders dropped in 2011-12.

“The average yearly revenue of company from the trucks business has halved and come down to Rs 250 crore in 2011-12 from Rs 500 crore in 2010-11,” added report.

Meanwhile, according to media reports the Ministry of Defence has slammed V. R. S. Natarajan, chairman and managing director of the state-owned company for threatening to sue the former Army Chief, General (retired.) V. K. Singh.

The stock opened at Rs 404 and hit a 52-week low of Rs 385.50 on the National Stock Exchange. A combined 72,270 shares have changed hands on the counter in morning trades on both the exchanges.